30/09/2021 - 06:48

Morning Headlines

30/09/2021 - 06:48

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Coal, gas exports boom

Soaring prices for gas and coal look set to drive Australian resources exports to a record $349 billion as major economies such as China and Europe battle energy supply crises and the Morrison government faces an internal stoush over whether to adopt stronger emissions reduction targets. The Fin

Class action lawyer fees cut to 30pc

Class action funders and lawyers will be restricted to a maximum 30 per cent of any payout under new laws the federal government hopes will curb ‘‘disproportionate’’ returns at the expense of ordinary Australians taking the actions. The Fin

Budget’s $80bn rebound

Australia’s budget deficit at the time of the Delta outbreak was nearly $80bn less than forecast in the first year of the pandemic, coming in at around $135bn on the back of a sharp recovery in the jobs market and a reduction in welfare payments. The Aus

Controversial call for State-run service

WA’s most powerful trade union has told a parliamentary inquiry the State Government should terminate its contract with St John WA and bring the ambulance service into the public sector for the first time in more than a century. The West

Sparks fly in Qantas and Perth Airport fight

The long-running dispute between Perth Airport and Qantas has intensified, with Australia’s flying kangaroo accusing the airport of trying to significantly increase its charges. The West

Businesses ‘can exclude the unvaccinated’

Employees will be protected if they refuse to work with or serve unvaccinated people, and businesses would have a right to turn back anyone who has not been injected with a COVID-19 vaccine, the managing partner of a major law firm says. The Fin

ACCC warns airports not to put up prices

The competition watchdog has warned airports that raising charges for airlines could damage the travel industry’s recovery from COVID-19 chaos at the expense of consumers and the economy. The Fin

Indigenous body eyes $6m horse trade loss

The new board of Western Australia’s most powerful land council has learned $13.5m from a trust established for the benefit of Noongar people was spent on a loss-making former horse ranch that global accounting firm EY said might be worth just $7.2m. The Aus

National Park plan stalls

Plans to create a national park in the Kimberley’s Fitzroy Valley are on the brink of collapse after the area’s biggest Native Title holder warned it would walk away from negotiations because of untenable conditions. The West

Crown Resorts boosts board

The chair of online marketplace Redbubble has joined the board of Crown Resorts as the gaming giant continues to restock its ranks after a raft of high-profile departures. The West

 

 

The Australian Financial Review

Page 1: Soaring prices for gas and coal look set to drive Australian resources exports to a record $349 billion as major economies such as China and Europe battle energy supply crises and the Morrison government faces an internal stoush over whether to adopt stronger emissions reduction targets.

Class action funders and lawyers will be restricted to a maximum 30 per cent of any payout under new laws the federal government hopes will curb ‘‘disproportionate’’ returns at the expense of ordinary Australians taking the actions.

Page 4: Small banks have urged the regulators to avoid imposing anti-competitive measures that would help the big banks or hurt first home buyers, after the regulators officially confirmed they were moving to clamp down on housing market risks.

Page 6: Employees will be protected if they refuse to work with or serve unvaccinated people, and businesses would have a right to turn back anyone who has not been injected with a COVID-19 vaccine, the managing partner of a major law firm says.

Page 13: Banned investment spruiker James Mawhinney says he disregarded the corporate watchdog’s detailed advice about how to market fixed-income products to retail investors because he said the investors he targeted qualified as sophisticated.

Page 16: Shares in salary packaging and fleet management services play Smartgroup have surged after a TPG Global-led consortium lobbed a $1.4 billion takeover bid.

Page 19: The competition watchdog has warned airports that raising charges for airlines could damage the travel industry’s recovery from COVID-19 chaos at the expense of consumers and the economy.

 

 

The Australian

Page 1: Australia’s budget deficit at the time of the Delta outbreak was nearly $80bn less than forecast in the first year of the pandemic, coming in at around $135bn on the back of a sharp recovery in the jobs market and a reduction in welfare payments.

Page 5: From Melbourne’s upper crust to a jail cell in Perth, the descent has been swift for two mates who allegedly lied to border authorities to go to the AFL grand final.

Page 7: The new board of Western Australia’s most powerful land council has learned $13.5m from a trust established for the benefit of Noongar people was spent on a loss-making former horse ranch that global accounting firm EY said might be worth just $7.2m.

Page 13: More than $101bn last been lost from the coffers of the local tourism industry since the start of the pandemic, but Covid-19 has irrevocably changed Australian travel patterns with most holidaymakers now opting to take regional trips within their own state.

Page 17: Imposing tough measures to cool the runaway housing market will hurt fragile economic growth at a time when the building sector is playing a key role in the recovery, developers and real estate agencies have warned.

 

 

The West Australian

Page 3: Scott Morrison is being pushed from within the Coalition to release modelling detailing how his plan for net-zero emissions by 2050 will affect jobs to ensure sectors such as resources and agriculture don’t suffer.

Page 11: WA’s most powerful trade union has told a parliamentary inquiry the State Government should terminate its contract with St John WA and bring the ambulance service into the public sector for the first time in more than a century.

Page 14: Chief Health Officer Andy Robertson is warning the risk of a major COVID outbreak in WA will remain “very high” for the rest of the year.

Business: Plans to create a national park in the Kimberley’s Fitzroy Valley are on the brink of collapse after the area’s biggest Native Title holder warned it would walk away from negotiations because of untenable conditions.

Market darling Vulcan Energy Resources has secured an industrial site near Frankfurt in Germany for a processing plant as part of its broader project to develop zero-carbon lithium from geothermal brine.

The chair of online marketplace Redbubble has joined the board of Crown Resorts as the gaming giant continues to restock its ranks after a raft of high-profile departures.

Mastercard is set to enter the rapidly growing buy now, pay later space with its new Mastercard Installments program.

The long-running dispute between Perth Airport and Qantas has intensified, with Australia’s flying kangaroo accusing the airport of trying to significantly increase its charges.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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